Financial Services and Markets Bill – in a Public Bill Committee at 11:00 am on 1st November 2022.
Amendments made: 32, in schedule 12, page 310, line 43, at end insert—
“(2A) Nothing in this Part of this Schedule affects the operation of—
(a) Part 7 of the Companies Act 1989 (financial markets and insolvency);
(b) the Financial Markets and Insolvency Regulations 1996 (S.I. 1996/1469);
(c) the Financial Markets and Insolvency (Settlement Finality) Regulations 1999 (S.I. 1999/2979);
(d) the Financial Collateral Arrangements (No. 2) Regulations 2003 (S.I. 2003/3226).
(2B) The Treasury may by regulations amend sub-paragraph (2A).”
This amendment ensures that certain exclusions apply in relation to the moratorium on proceedings during a write down and provides a power to amend that list of exclusions.